11/1/2013

I’m not sure how to title this post. It’s a forward from the idiot Barber. In it we’re going to see how specious all prior arguments about freeloaders and socialism really are. I mean – the government owes Barber a ton of money by his(her?) calculation. It’s all wrong because nothing the Barber forwards is fact checked – I’ll do a little through the email:

Who died before they collected Social Security?

KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT… THIS IS SURE SOMETHING TO THINK ABOUT!!!! THE ONLY THING WRONG WITH THE GOVERNMENT’S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!! WHERE DID THAT MONEY GO?

Remember, not only did you and I contribute to Social Security but your employer did, too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that’s close to $220,500.

Actually, Barber, Social Security is 6.2% of your wages, the employer pays the other 6.2% which, in math in the real world, amounts to 12.4%. There is an additional 1.45% (matched by your employer) held out to pay for Medicare when you get to that age. I can see where you would think it’s 15%, but you are already wrong. So $220,500 is 15% of $1,470,000. The real amount, then, is $182,280.

Read that again. Did you see where the Government paid in one single penny? We are talking about the money you and your employer put in a Government bank to insure you and I, that we would have a retirement check from the money we put in, not the Government.

Actually, according the the history of the program on ssa.gov, the government has put some funds. But the idea was that it be totally “self-funded”.

Now they are calling the money we put in an entitlement when we reach the age to take it back.

So you aren’t “entitled” to receive payments? What else can it be called?

If you calculate the future invested value of $4,500 per year (yours & your employer’s contribution) at a simple 5% interest (less than what the Government pays on the money that it borrows), after 49 years of working you’d have $892,919.98.

Again, according to SSA.gov,

The numeric average of the 12 monthly interest rates for 2012 was 1.458 percent. The annual effective interest rate (the average rate of return on all investments over a one-year period) for the OASI and DI Trust Funds, combined, was 4.091 percent in 2012.

So yeah, I can see how 5% is less than what the government pays on the money that it borrows.
So let’s see… I can get the math to work. One lump sum each year of $4,500, one compound/interest payment per year. If you don’t own a time value of money calculator, check out this future value calculator. Of course, the real number to use (not 4,500) is $3,720 and the future value of that is $738,147.85. Aside from the fact that the money is not “invested” in any real sense of the term. The current working force is paying for the current retirees. There is a “trust fund” that is really the other pocket of the government and the interest paid on that comes from gasp! the government general funds. Look! The government did put other moneys into social security.

If you took out only 3% per year, you’d receive $26,787.60 per year and it would last better than 30 years (until you’re 95 if you retire at age 65) and that’s with no interest paid on that final amount on deposit!

Honestly, it took me a while to realize that although they want to talk about earnings and interest rates there is no interest rate attached to the 3% withdrawal number. That’s the only way that figure works. It also helps if inflation didn’t require you to raise your withdrawal rate over time just to keep up.

If you bought an annuity or another investment and it paid 4% per year, you’d have a lifetime income of $2,976.40 per month.

Not in the real world. Here you have to decide on a withdrawal rate that is lower than your return – else you are going to have to eat into your principal as your expenses and and inflation rise. Of course you could decide on a withdrawal rate higher than your rate of return but you have to be confident about how long you have to live. There are variations, of course but Barber is trying to keep it simple.

Another thing – if someone died in their 50’s or before, they never withdrew one cent of their social security money that they paid into all their lives – so that money just went up in smoke?

Maybe. If they were single and never had any children. Part of Social Security is survivor’s benefits. Your spouse and children receive these funds whether they contributed anything at all. It’s only while your children are still minors, but still.

THE FOLKS IN WASHINGTON HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.
Entitlement my foot, I paid cash for my social security insurance! Just because they borrowed the money for other government spending, doesn’t make my benefits some kind of charity or handout!! Remember Congressional benefits? — free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days.

Now that’s welfare, and they have the nerve to call my social security retirement payments entitlements? We’re “broke” and we can’t help our own Seniors, Veterans, Orphans, or Homeless. Yet in the last few months we have provided aid to Haiti, Chile, Turkey,Egypt and Pakistan.

Again, if you are entitled to it what else can we call it?

Literally, BILLIONS of DOLLARS!!! And they can’t help our own citizens in New York and New Jersey! They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives, and now, when its time for us to collect, the government is running out of money.

Why did the government borrow from it in the first place? It was never supposed to be part of the general fund. They (the scum bags in Washington) stole $5,000,000,000,000 (that is $5 trillion from the Social Security Trust Fund).

It’s not gone. The only thing that the Trust Fund can be invested in is US government issued debt. There is nothing else it can be “invested” in.

Sad isn’t it. 99% of people won’t have the guts to forward this. I’m in the 1% — I just did

You’re in the 1%? Now wonder I don’t like you. 🙂 It bounces around with rates of return, then 0% return. I know. Simple minds, but at least start with real world numbers. The correct withholding amount would a good start.

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10/23/2013

Well, probably not. I should know Barber doesn’t fact check, I keep getting email that is supposed to go to Pat’s racist friends – for years now.
Yesterday, the quote was supposed to be from Ben Stein:

“Fathom the hypocrisy of a government that requires every citizen to prove they are insured… but not everyone must prove they are a citizen”

Ford’s new truck
Nothing like a Ford Truck.
New Truck built by a company we didn’t bail
out…

I bought a new Ford F250 Tri-Flex Fuel pickup truck.
Go figure– it runs on either hydrogen,
gasoline, or E85.
I returned it to the dealer yesterday because I
couldn’t get the radio to work. The service
technician explained that the radio was voice
activated.

“Nelson”, the technician said to the radio.

The radio replied, “Ricky or Willie?”

“Willie!” he continued and “On The Road Again”
came from the speakers.

Then he said, “Ray Charles!”, and in an instant
” Georgia On My Mind” replaced Willie Nelson.

I drove away happy, and for the next few days,
every time I’d say, “Beethoven”, I’d get
beautiful classical music, and if I said,
“Beatles”, I’d get one of their awesome songs.

Yesterday, some guy ran a red light and nearly
creamed my new truck, but I swerved in time to
avoid him.

I yelled, “Ass Hole!”
Immediately the radio responded with, “Ladies
and gentlemen, the President of the United
States .”

Damn I love this truck.

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6/11/2013

This Idiot Barber sent this to me:
I’m not going to interject. I’m simply going to say, the last line reads, “In God We Trust”. And your God fucked you in the ass with mile wide tornadoes. If you truly believe in god and that all you do is “right” the what the hell does ripping the fucking earth from its very foundations mean? God rewards the righteous and punishes the wicked? Consider yourself punished. Oh wait, when it’s homophopes laid open by the hand of god, he’s testing you? How about when he fists you clear up to the bicep?
Oh, and another thing: If you want to be a “sovereign nation”, you don’t get any of my tax dollars in the form of FEMA help you backwards ass racists. Try rebuilding your lame ass country on Oklahoma dollars…

>=20
> =20
> Moving to Oklahoma?
> THIS IS REALLY INTERESTING.
> =20
> Oklahoma is the only
> state that Obama did not win even one county in the last election. W=
hile
> everyone is focusing on Arizona’s new law, look what Oklahoma has be=
en
> doing!
> =20
> An update from Oklahoma:
> =20
> Oklahoma passed, 37 to 9, an amendment to place the Ten Commandments=
on the front entrance to
> the state capitol. The feds in D.C., along with the ACLU, said it wo=
uld be
> a mistake. Hey this is a conservative state, based on Christian valu=
es!
> (HB 1330)
> =20
> Guess what………. Oklahoma did it anyway.
> =20
> Oklahoma recently
> passed a law in the state to incarcerate all illegal immigrants, and=
ship
> them back to where they came from unless they want to get a green ca=
rd and
> become an American citizen. They all scattered. (HB 1804). This was
> against the advice of the Federal Government and the
> ACLU; they said it would be a mistake.
> =20
> Guess what………Oklahoma did it anyway.
> =20
> Recently we passed a law to include DNA samples from any and all ill=
egals to the Oklahoma
> database, for criminal investigative purposes. Pelosi said it was
> unconstitutional. (SB 1102)
> =20
> Guess what……..Oklahoma did it anyway.
> =20
> Several weeks ago,
> we passed a law, declaring Oklahoma as a Sovereign state, not under t=
he
> Federal Government directives. Joining Texas, Montana, and Utah as t=
he only
> states to do so. More states are likely to follow: Louisiana, Alabam=
a,
> Georgia, both Carolinas, Tennessee,Kentucky, Missouri,
> Arkansas, West Virginia, Mississippi, and Florida.
> =20
> Save your confederate money,it appears the South is about to rise up=
once again.
> (HJR 1003)
> =20
> The federal Government has made bold steps to take away our guns. Ok=
lahoma, a week
> ago, passed a law confirming people in this state have the right to b=
ear
> arms and transport them in their vehicles. I’m sure that was a setba=
ck for
> the criminals. The liberals didn’t like it.
> =20
> But….*****
> =20
> Guess
> what……….. Oklahoma did it anyway.
> =20
> Just this month, the state has voted and passed a law that ALL drive=
rs’ license exams will be
> printed in English, and only English, and no other language. They ha=
ve
> been called racist for doing this, but the fact is that ALL of
> the road signs are in English only. If you want to drive in Oklahoma=
, you
> must read and write English. Really simple.
> =20
> By the way, the liberals don’t like any of this either.
> =20
> Guess what…who cares… Oklahoma is doing it anyway.
> =20
> If you like it, pass it on, if you don’t then delete it.
> =20
> Guess what: I’m pretty sure the people I’m sending this to will sen=
d it on. Well, at least
> those who love and believe in freedom will.
> =20
> In God We Trust!
> =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D
> =20
>=20
>=20
> NOTE: THIS ALL CHECKS OUT ON SNOPES . . .
>=20
>=20
> =20
>=20
>=20
>=20
>=20